Goodomy [GOOD] - Launching May 24, 2018 // From the creator of the first ICO

[EdgarJohn]

I like the positive vibe in this thread. Good luck with Good Karma. I just invested some via coinexchange.io Can you give a estimate time about the release of the road map and some more details about the future of Good Karma?

[1714851124]

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[1714851124]

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[gunmaster217]

Bought a big bunch of GOOD 

[kosmost]

Bought a big bunch of GOOD 

Good stuff! Thanks for your support

[luckytimes]

I got Karma coin on Yobit. Can I swap it for Good Karma? I was waiting for the swap to happen but it seems it is not?

[kosmost]

I got Karma coin on Yobit. Can I swap it for Good Karma? I was waiting for the swap to happen but it seems it is not?

Hi. Unfortunately, for this token it was decided not to do a swap (from nearly the beginning) as expressed from this post and a bit before: https://bitcointalk.org/index.php?topic=579973.msg19541126#msg19541126 (last 2 paragraphs, then pretty much every page after that)

This doesn't mean that a swap with the old Karmacoin isn't possible if the Karmacoin community decides which direction to go, but please refer to that thread to keep updated on it.

Let us know if any questions about Good Karma can be answered. Thanks

[BitJoker]

what happened to GOOD on coinexchange? Almost no trades.. is this normal? There were more trades on Etherdelta...

[EdgarJohn]

I was thinking if it would be nice when there was a Good Wordpress plugin. The possibility for readers of articles to share Good with writers when they feel they deserve it. At the same time I wonder why to use Good for it because there are already Wordpress plugins like this to share Bitcoin with writers. Can you explain what the advantages are by using Good over Bitcoin for these kind of implementations?

[kosmost]

I was thinking if it would be nice when there was a Good Wordpress plugin. The possibility for readers of articles to share Good with writers when they feel they deserve it. At the same time I wonder why to use Good for it because there are already Wordpress plugins like this to share Bitcoin with writers. Can you explain what the advantages are by using Good over Bitcoin for these kind of implementations?

Good Karma is the only token doing rewards that I know of. But the focus won't just be tipping-type rewards (a la Dogecoin or Reddcoin). That's not a unique value proposition. It's more of a novelty, I think. So, while a Wordpress plugin is nice to have, it's not the end goal.

Good Karma will be providing a service for the 700,000 retail shops in the US and millions more around the world that may want to offer rewards to their customers but do not currently have a solution. We will initially focus on offline transactions with an online component. Once people have GOOD in their wallet they will then be able to reward whomever they like.

By this time next year a user sending GOOD somewhere should be able to do it without transaction fees, thanks to Ethereum.

A coin/token that focuses exclusively on rewards can do all kinds of things that one without a focus (like Bitcoin) would not be able to do. It's the difference between going shopping for a bestselling book at a large pharmacy that sells a little of everything and going to a bookstore.

The focus will be the average consumer, not people who are already familiar with these things. It's what I have done for many years. Branding efforts will also be made with that in mind. Coins and tokens that are looking to be tremendously successful need to put the average user in the driver's seat of their product roadmap. Anything else is just another Bitcoin.

[gunmaster217]

Recently I came up with an idea that could evolve the concept of the ICO for coins, at least as far as mitigating SEC scrutiny is concerned.

As I've detailed in a couple of places, there are crowdsales (which are good and legal in the US) and ICOs (which are not legal for US citizens and residents). Some people use the term 'ICO' when they actually mean 'crowdsale' or 'token sale' and vice-versa.

Having come up with the 'ICO' concept a few years ago and held the first ICO for Karmashares, I've held my tongue since then regarding its misuse, but recently began speaking up about it more and have gone so far as to claim (rightful) ownership of the invention in order to promote the correct usage to prevent unwitting (US-based) participants who still aren't aware of the important difference.

However, I do have an idea which I think could work to get some of the benefits of an ICO without actually having an ICO. An ICO lasts only so long, but this idea could benefit GOOD indefinitely. I will update the OP in a few days with more info on this, but I think it could be quite powerful for GOOD and other coins/tokens.

Interesting! Is there a discord/slack or telegram channel for GOOD at the moment?

[EdgarJohn]

I was thinking if it would be nice when there was a Good Wordpress plugin. The possibility for readers of articles to share Good with writers when they feel they deserve it. At the same time I wonder why to use Good for it because there are already Wordpress plugins like this to share Bitcoin with writers. Can you explain what the advantages are by using Good over Bitcoin for these kind of implementations?

Good Karma is the only token doing rewards that I know of. But the focus won't just be tipping-type rewards (a la Dogecoin or Reddcoin). That's not a unique value proposition. It's more of a novelty, I think. So, while a Wordpress plugin is nice to have, it's not the end goal.

Good Karma will be providing a service for the 700,000 retail shops in the US and millions more around the world that may want to offer rewards to their customers but do not currently have a solution. We will initially focus on offline transactions with an online component. Once people have GOOD in their wallet they will then be able to reward whomever they like.

By this time next year a user sending GOOD somewhere should be able to do it without transaction fees, thanks to Ethereum.

A coin/token that focuses exclusively on rewards can do all kinds of things that one without a focus (like Bitcoin) would not be able to do. It's the difference between going shopping for a bestselling book at a large pharmacy that sells a little of everything and going to a bookstore.

The focus will be the average consumer, not people who are already familiar with these things. It's what I have done for many years. Branding efforts will also be made with that in mind. Coins and tokens that are looking to be tremendously successful need to put the average user in the driver's seat of their product roadmap. Anything else is just another Bitcoin.

Thanks for your answer, clears things up for me. Nice mention on Crypt0 today.

[kosmost]

Interesting! Is there a discord/slack or telegram channel for GOOD at the moment?

Also around July 20, when we get a bit more activity. Thanks!

[kosmost]

A few updates...



Any questions, please feel free to ask

[kosmost]

A few notes about the name, "Good Karma"

Although the token might be known as Good Karma, we also have the option of going with 'GOOD' if consumers prefer the shorter name. In that case, the goodomy.com website will be the consumer-facing site for the token. The website can also be used for businesses and enterprise clients.

Although longer, GoodKarmaCoin.com or GoodKarmaToken.com can also be used. I like the name "Goodomy" because it is more brandable and also sounds like "good of me"

But it really depends on what potential users like.

The shopping app and website will be called "Shopomy". The name has a more general appeal and it's also brandable.

Most people, I think, would simply interface with the shopping app. A user won't need GOOD to make use of it, nor would they need to know anything about it. A percentage of these users will utilize the token in some capacity.

it might be a bit confusing because I'm presenting some options, but for the end user it will be more simplified and clear.

[kosmost]

Regarding the 'ICR Announcement' coming up, it's some info about a plan in Good Karma's future.

I developed the ICO model a few years ago to strengthen the economy of the coin I was working on, but shut it down because of potential SEC issues. The new model ("ICR") is a far better way to strengthen the economy of a coin, I think, particularly when there are US citizens or residents involved.

It doesn't need to be as popular as the ICO model has become, of course. It only needs to work for Good Karma to be successful

[FreshB]

Regarding the 'ICR Announcement' coming up, it's some info about a plan in Good Karma's future.

I developed the ICO model a few years ago to strengthen the economy of the coin I was working on, but shut it down because of potential SEC issues. The new model ("ICR") is a far better way to strengthen the economy of a coin, I think, particularly when there are US citizens or residents involved.

It doesn't need to be as popular as the ICO model has become, of course. It only needs to work for Good Karma to be successful

So what does ICR stand for? Initial Coin R?

[bitekoin]

Regarding the 'ICR Announcement' coming up, it's some info about a plan in Good Karma's future.

I developed the ICO model a few years ago to strengthen the economy of the coin I was working on, but shut it down because of potential SEC issues. The new model ("ICR") is a far better way to strengthen the economy of a coin, I think, particularly when there are US citizens or residents involved.

It doesn't need to be as popular as the ICO model has become, of course. It only needs to work for Good Karma to be successful

Why won't it "shut down" again, for this or other reason (such as, you bail out)?

[kosmost]

Regarding the 'ICR Announcement' coming up, it's some info about a plan in Good Karma's future.

I developed the ICO model a few years ago to strengthen the economy of the coin I was working on, but shut it down because of potential SEC issues. The new model ("ICR") is a far better way to strengthen the economy of a coin, I think, particularly when there are US citizens or residents involved.

It doesn't need to be as popular as the ICO model has become, of course. It only needs to work for Good Karma to be successful

So what does ICR stand for? Initial Coin R?

More info to come

[kosmost]

Regarding the 'ICR Announcement' coming up, it's some info about a plan in Good Karma's future.

I developed the ICO model a few years ago to strengthen the economy of the coin I was working on, but shut it down because of potential SEC issues. The new model ("ICR") is a far better way to strengthen the economy of a coin, I think, particularly when there are US citizens or residents involved.

It doesn't need to be as popular as the ICO model has become, of course. It only needs to work for Good Karma to be successful

Why won't it "shut down" again, for this or other reason (such as, you bail out)?

I shut down the ICO on the recommendation of legal counsel after giving an opportunity for anyone in the community to take over. The difference is that ICR is legal to operate.

Besides that, the ICR is a process, not a legal entity for which someone has a legal responsibility. Any entity would be able to do it.

[kosmost]

Can i see GOOD tokens on Etherscan?

Hi. It's at https://etherscan.io/token/0xae616e72d3d89e847f74e8ace41ca68bbf56af79

For quick reference, please refer to the OP.

[huu78]

We all expect something positive in this thread. We believe in a time when karma will get better with a better future (Good Karma)Good luck with Good Karma